Why Is the African American Financial Experience Different?

by / July 3, 2014 video 562 Comments

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Valerie Coleman Morris is an Emmy award winning journalist, reporter, professor and author who formerly appeared as Business Anchor for CNN domestic and international. During her time at CNN, Morris reported on Personal Finance Issues during her daily segment called ‘Smart Assets.’

She joined CNN in 1996 after starting the nationally syndicated radio column “With the Family In Mind, which she writes and narrates and serving as the first African American TV anchorwoman in the Bay Area.

In 2007, Morris decided to focus more on her passion and help bring financial literacy to women and people of color.  She feels as though this is where she can have the greatest impact, not just because she is a black woman, but because these two population segments are consistently disenfranchised.

In 2011, Morris published her first book, “It’s Your Money So Take It Personally.”  The book was designed to take a multi-generational approach toward changing financial behavior in the wake of the economic recession.

Morris now travels the lecture circuit offering valuable advice on an array of personal finance issues and helping to empower women to find their own path to financial independence.  According to Morris, her “mind over money matters” approach is meant to allow people to reassess their relationship with money to help create the mindset for financial behavioral change.

The following video clip looks at how African Americans view their financial health.  Morris feels that African Americans tend to have a positive outlook on the economy which goes back to their survival instincts that “tomorrow has to be better than today.” She also believes that culturally, the African American community is one where money is not discussed and that could hinder the idea that it’s something to be kept secret. Watch the clip to out more about what Morris believes makes the economic experience of African Americans different from other people’s experiences.

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